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[The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense	$ 64,000
Depreciation expenseOffice equipment	43,000
Depreciation expenseSelling equipment	44,000
Depreciation expenseFactory equipment	86,000
Raw materials purchases (all direct materials)	960,000
Maintenance expenseFactory equipment	46,800
Factory utilities	40,200
Direct labor	544,000
Indirect labor	82,000
Office salaries expense	49,000
Rent expenseOffice space	29,000
Rent expenseSelling space	70,000
Rent expenseFactory building	168,000
Sales salaries expense	403,000

Using the following additional information for Leone Company, complete the requirements below.

Raw materials inventory, beginning	$ 192,000
Raw materials inventory, ending	197,000
Work in process inventory, beginning	58,000
Sales	3,134,000
Work in process inventory, ending	62,000
Finished goods inventory, beginning	81,000
Finished goods inventory, ending	89,000

Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2

Prepare the schedule of cost of goods manufactured for the current year.

LEONE COMPANY
Schedule of Cost of Goods Manufactured
For Year Ended December 31
Direct materials
Raw materials available for use	0
Direct materials used		$0
Factory overhead
Total factory overhead		0
Total manufacturing costs		0
Total cost of work in process		0
Cost of goods manufactured		$0

• Required 1